Technology company Amdocs Ltd. (Nasdaq: DOX), which occupies a giant 75,000-sq.m. complex at the Ra’anana Junction, today notified its employees that it was looking for a new location in the central region. The company’s lease with REIT 1 Ltd. (TASE:RIT1), the owner of the company’s current site, expires at the end of 2019.
In its announcement to the employees, company management explained the planned move by saying that it wished to improve their working environment. Among the alternatives under consideration by the company are the purchase of a new office building to be constructed for it, renting a new office building, and renovation and adaptation of the existing complex to the company’s needs. For this purpose, Amdocs has established a task force, which has already begun looking for locations.
Amdocs are on the move. It is a few years away, but the possibility of such a large site being vacant if the landlords cannot attract a replacement, will not be good news for local business.
Amdocs, unsurprisingly, are looking for something in the central belt. The article has this quote from an Amdocs letter to its employees:
“The main guiding criteria are a better experience for the employees, including better transportation, suitable facilities in the area, business, cost, and other operation considerations.”
The interesting part there is the reference to transportation. The traffic junction around Amdocs is currently being redeveloped. Further, while there is no train connection in Ra’anana, by the time their lease ends there will be two train stations in the city. Neither, unfortunately, is in a terrific location for the Amdocs building, but transportation connections are being improved.
As the article mentions, Microsoft are in the same area. Perhaps they will be interested in taking up the slack?